Recourse in Digital Financial Services : Opportunities for Innovation
This actual case highlights the importance of an efficient customer recourse system. Recourse systems can help consumers overcome the challenges related to product adoption and continued use by helping resolve initial problems or challenges quickly...
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| Format: | Brief |
| Language: | English en_US |
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World Bank, Washington, DC
2016
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| Online Access: | http://documents.worldbank.org/curated/en/2016/06/26430466/recourse-digital-financial-services-opportunities-innovation http://hdl.handle.net/10986/24565 |
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okr-10986-245652021-04-23T14:04:22Z Recourse in Digital Financial Services : Opportunities for Innovation Mazer, Rafe Garg, Nitin CREDIT PRODUCTS FINANCIAL SERVICES DEPOSIT RISKS DEPOSITS CUSTOMER STOCK INCOME CAPABILITY HEALTH INSURANCE MONITORING LOAN PRODUCT INCENTIVES DISTRIBUTION CHANNELS LOAN BUSINESS MODELS FRAUDS BORROWERS INSURANCE CLAIMS PRODUCT DESIGNS STATE BANK INSTITUTIONS ADVERTISING SAVINGS IDENTIFICATION NUMBERS TELECOMMUNICATIONS COMMERCIAL BANK FINANCIAL SERVICE PROVIDER PRODUCTS COORDINATION MECHANISMS OPTIONS MOBILE NETWORK FINANCIAL INSTITUTIONS MARKETS LIMITED ACCESS DEFICITS FINANCIAL PRODUCTS SERVICE PROVIDER LOANS CALL CENTER BRAND CAPABILITIES TRANSACTIONS USERS PHONE TRANSACTION PDF GOOD FRAUD CONSUMER BARRIERS PRODUCT INNOVATIONS BEST PRACTICES INSURANCE PRODUCTS FORMAL FINANCIAL SERVICES CREDIT MICROINSURANCE NETWORKS CLAIMS USER INTERFACE REPAYMENT CONSUMERS INCOMES FINANCIAL SERVICE PROVIDERS MARKET FINANCIAL SERVICE CUSTOMER RETENTION PARTNER BANK INSURANCE RESULT AGENTS BUSINESS NETWORK PHONES RISK PERSONAL IDENTIFICATION RETENTION BANKING CONTACT POINT E-MONEY INNOVATION MOBILE PHONES CLAIMS PROCESSING COMMUNICATION POST OFFICES SWAPS CUSTOMERS INTERFACE TURNAROUND TIME BANK BRANCHES CUSTOMER INTERACTION TARGET CONSUMER PROTECTION INNOVATIONS NONPERFORMING LOANS SWAP CLAIMANT SERVICE PROVIDERS This actual case highlights the importance of an efficient customer recourse system. Recourse systems can help consumers overcome the challenges related to product adoption and continued use by helping resolve initial problems or challenges quickly, which can build trust in providers and their products, and increase uptake and customer retention. Effective recourse, and the key principles of awareness, access, timeliness, and fairness associated with effective recourse systems, becomes all the more relevant in the case of digital financial services (DFS), which still face trust deficits among some consumers. 2016-06-17T18:50:31Z 2016-06-17T18:50:31Z 2015-12 Brief http://documents.worldbank.org/curated/en/2016/06/26430466/recourse-digital-financial-services-opportunities-innovation http://hdl.handle.net/10986/24565 English en_US CGAP Brief; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Brief |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
CREDIT PRODUCTS FINANCIAL SERVICES DEPOSIT RISKS DEPOSITS CUSTOMER STOCK INCOME CAPABILITY HEALTH INSURANCE MONITORING LOAN PRODUCT INCENTIVES DISTRIBUTION CHANNELS LOAN BUSINESS MODELS FRAUDS BORROWERS INSURANCE CLAIMS PRODUCT DESIGNS STATE BANK INSTITUTIONS ADVERTISING SAVINGS IDENTIFICATION NUMBERS TELECOMMUNICATIONS COMMERCIAL BANK FINANCIAL SERVICE PROVIDER PRODUCTS COORDINATION MECHANISMS OPTIONS MOBILE NETWORK FINANCIAL INSTITUTIONS MARKETS LIMITED ACCESS DEFICITS FINANCIAL PRODUCTS SERVICE PROVIDER LOANS CALL CENTER BRAND CAPABILITIES TRANSACTIONS USERS PHONE TRANSACTION GOOD FRAUD CONSUMER BARRIERS PRODUCT INNOVATIONS BEST PRACTICES INSURANCE PRODUCTS FORMAL FINANCIAL SERVICES CREDIT MICROINSURANCE NETWORKS CLAIMS USER INTERFACE REPAYMENT CONSUMERS INCOMES FINANCIAL SERVICE PROVIDERS MARKET FINANCIAL SERVICE CUSTOMER RETENTION PARTNER BANK INSURANCE RESULT AGENTS BUSINESS NETWORK PHONES RISK PERSONAL IDENTIFICATION RETENTION BANKING CONTACT POINT E-MONEY INNOVATION MOBILE PHONES CLAIMS PROCESSING COMMUNICATION POST OFFICES SWAPS CUSTOMERS INTERFACE TURNAROUND TIME BANK BRANCHES CUSTOMER INTERACTION TARGET CONSUMER PROTECTION INNOVATIONS NONPERFORMING LOANS SWAP CLAIMANT SERVICE PROVIDERS |
| spellingShingle |
CREDIT PRODUCTS FINANCIAL SERVICES DEPOSIT RISKS DEPOSITS CUSTOMER STOCK INCOME CAPABILITY HEALTH INSURANCE MONITORING LOAN PRODUCT INCENTIVES DISTRIBUTION CHANNELS LOAN BUSINESS MODELS FRAUDS BORROWERS INSURANCE CLAIMS PRODUCT DESIGNS STATE BANK INSTITUTIONS ADVERTISING SAVINGS IDENTIFICATION NUMBERS TELECOMMUNICATIONS COMMERCIAL BANK FINANCIAL SERVICE PROVIDER PRODUCTS COORDINATION MECHANISMS OPTIONS MOBILE NETWORK FINANCIAL INSTITUTIONS MARKETS LIMITED ACCESS DEFICITS FINANCIAL PRODUCTS SERVICE PROVIDER LOANS CALL CENTER BRAND CAPABILITIES TRANSACTIONS USERS PHONE TRANSACTION GOOD FRAUD CONSUMER BARRIERS PRODUCT INNOVATIONS BEST PRACTICES INSURANCE PRODUCTS FORMAL FINANCIAL SERVICES CREDIT MICROINSURANCE NETWORKS CLAIMS USER INTERFACE REPAYMENT CONSUMERS INCOMES FINANCIAL SERVICE PROVIDERS MARKET FINANCIAL SERVICE CUSTOMER RETENTION PARTNER BANK INSURANCE RESULT AGENTS BUSINESS NETWORK PHONES RISK PERSONAL IDENTIFICATION RETENTION BANKING CONTACT POINT E-MONEY INNOVATION MOBILE PHONES CLAIMS PROCESSING COMMUNICATION POST OFFICES SWAPS CUSTOMERS INTERFACE TURNAROUND TIME BANK BRANCHES CUSTOMER INTERACTION TARGET CONSUMER PROTECTION INNOVATIONS NONPERFORMING LOANS SWAP CLAIMANT SERVICE PROVIDERS Mazer, Rafe Garg, Nitin Recourse in Digital Financial Services : Opportunities for Innovation |
| relation |
CGAP Brief; |
| description |
This actual case highlights the
importance of an efficient customer recourse system.
Recourse systems can help consumers overcome the challenges
related to product adoption and continued use by helping
resolve initial problems or challenges quickly, which can
build trust in providers and their products, and increase
uptake and customer retention. Effective recourse, and the
key principles of awareness, access, timeliness, and
fairness associated with effective recourse systems, becomes
all the more relevant in the case of digital financial
services (DFS), which still face trust deficits among some consumers. |
| format |
Brief |
| author |
Mazer, Rafe Garg, Nitin |
| author_facet |
Mazer, Rafe Garg, Nitin |
| author_sort |
Mazer, Rafe |
| title |
Recourse in Digital Financial Services : Opportunities for Innovation |
| title_short |
Recourse in Digital Financial Services : Opportunities for Innovation |
| title_full |
Recourse in Digital Financial Services : Opportunities for Innovation |
| title_fullStr |
Recourse in Digital Financial Services : Opportunities for Innovation |
| title_full_unstemmed |
Recourse in Digital Financial Services : Opportunities for Innovation |
| title_sort |
recourse in digital financial services : opportunities for innovation |
| publisher |
World Bank, Washington, DC |
| publishDate |
2016 |
| url |
http://documents.worldbank.org/curated/en/2016/06/26430466/recourse-digital-financial-services-opportunities-innovation http://hdl.handle.net/10986/24565 |
| _version_ |
1764457005891715072 |